Brokerages Set Comstock Resources, Inc. (NYSE:CRK) Price Target at $19.50

Comstock Resources, Inc. (NYSE:CRK) has been assigned a consensus recommendation of “Reduce” from the eleven brokerages that are presently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $19.70.

Several analysts have recently issued reports on the company. Zacks Research downgraded Comstock Resources from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. UBS Group boosted their target price on shares of Comstock Resources from $14.00 to $16.00 and gave the company a “sell” rating in a research note on Thursday. Roth Capital cut shares of Comstock Resources from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $18.00 to $12.00 in a research note on Monday, August 18th. Piper Sandler set a $9.00 price target on shares of Comstock Resources and gave the stock an “underweight” rating in a report on Tuesday, October 21st. Finally, Mizuho set a $21.00 price objective on shares of Comstock Resources and gave the company a “neutral” rating in a research report on Thursday, October 16th.

Comstock Resources Trading Up 5.7%

Shares of CRK opened at $23.04 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.36 and a quick ratio of 0.36. Comstock Resources has a 1-year low of $12.96 and a 1-year high of $31.17. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of -95.98 and a beta of 0.24. The firm has a 50 day simple moving average of $18.42 and a 200-day simple moving average of $20.61.

Comstock Resources (NYSE:CRK) last posted its earnings results on Monday, November 3rd. The oil and gas producer reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The firm had revenue of $449.85 million for the quarter, compared to analyst estimates of $433.54 million. Comstock Resources had a positive return on equity of 3.65% and a negative net margin of 5.05%.Comstock Resources’s revenue was up 47.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.17) EPS. Equities analysts forecast that Comstock Resources will post 0.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Comstock Resources

Several hedge funds have recently made changes to their positions in CRK. Legacy Investment Solutions LLC acquired a new position in Comstock Resources in the second quarter valued at $29,000. Jones Financial Companies Lllp boosted its stake in Comstock Resources by 671.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,581 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 1,376 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Comstock Resources in the 2nd quarter valued at about $34,000. Nisa Investment Advisors LLC grew its holdings in Comstock Resources by 129.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 2,075 shares of the oil and gas producer’s stock valued at $42,000 after buying an additional 1,170 shares during the period. Finally, HHM Wealth Advisors LLC acquired a new position in shares of Comstock Resources during the 3rd quarter valued at about $44,000. Institutional investors and hedge funds own 36.13% of the company’s stock.

About Comstock Resources

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States. Its assets are located in the Haynesville and Bossier shales located in North Louisiana and East Texas. The company was incorporated in 1919 and is headquartered in Frisco, Texas.